What accounts to use for the transaction on sage

Assignment Help Accounting Basics
Reference no: EM132776812

From Lee Gull, $2 373, including HST, for legal fee to draw up legal waiver form for business. Paid by cheque #432. Create new Group expense account 5240 Legal Expenses. Allocate 20% of expense to Sales Division and 80% to Services. Use Quick Add for the new supplier.

Problem 1: What accounts to use for this transaction on Sage 50.

Reference no: EM132776812

Questions Cloud

Explain the importance of team effectiveness : Explain the importance of Team Effectiveness and how it contributes to consumer satisfaction. What are the characteristics of teams, specifically in a healthcar
Generational differences in the workplace : What relevance might contingency leadership have for dealing with generational differences in the workplace?
Which type of auditor would typically perform an operational : Which type of auditor would typically perform an operational audit? Which of the following is true? The criteria for any audit (an operational audit or finance)
Implemented a culture of ethical business behavior : Think of a company that you have worked for or that you know about that has not successfully implemented a culture of ethical business behavior. What would you
What accounts to use for the transaction on sage : What accounts to use for this transaction on Sage 50. From Lee Gull, $2 373, including HST, for legal fee to draw up legal waiver form for business.
Prepare a project management plan : Choose a project and prepare a Project Management plan - Electric Fork Lifts: Project Plan - Detail of summary budget and appropriate application
How a company would benefit from analyzing costs : Provide a rationale for your response, including a discussion of how a company would benefit from analyzing costs using an ABC system.
Relationship emphasis often necessary to get a group : Why are both a task emphasis and a relationship emphasis often necessary to get a group through a crisis, such as a hurricane having destroyed a company facilit
How does an understanding of management : How does an understanding of management and organizational behavior lead to organizational effectiveness and efficiency?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Provide advice to the management of fiji limited

You have been asked to provide advice to the management of Fiji Limited on treat the following items in the financial statements

  What income will frank report from the partnership

Frank did not receive his check until January 1, 2009. What income will Frank report from the partnership on his 2008 personal return

  Draw the cash diagram and define the economic

A production plant manager has been presented, If the company's minimum attractive rate is 15%, Draw the Cash Diagram and Define the Economic Symbols clearly?

  State whether adjustment or disclosure is required in june

For each of the above material after-reporting-period events, state whether adjustment or disclosure is required in the 30 June 2020 financial statements

  Why is revenue recognition important

a. Why is revenue recognition important to understanding cash flow in a business? Make sure you include and use a minimum of two peer-reviewed

  Using the appropriate interest table calculate the present

using the appropriate interest table compute the present values of the following periodic amounts due at the end of the

  Prepare the journal entries to record these transactions

Prepare the journal entries to record these transactions on Opps Company's books under a perpetual inventory system

  Bank reconciliation and adjusting entries presented

Prepare a bank reconciliation (to the correct balance) at November 30, for Haselhof Inc. from the information above.

  What is the proper tax treatment of redemption expenditures

What is the effect of the distribution on Crane Corporation's E & P? Also, what is the proper tax treatment of the redemption expenditures

  What amount of ordinary business income is allocated to jane

Jane's basis in her XYZ stock was $40,000. XYZ reported the following tax information for 2011. What amount of ordinary business income is allocated to Jane

  Gross method of recording sales discounts

What amount should the sale be recorded under the gross method of recording sales discounts? Give the required entry. Also give the collection entry, assuming that it is during the discount period.

  Determine the percentage change in net income

In 2016, Kim Company sold land for $107,000 cash. The land had originally cost $46,000. Determine the percentage change in net income between 2016 and 2017

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd